Purevjav is 45 years old and lives with her two daughters and one granddaughter in a ger (or traditional Mongolian yurt) in Uvurhangai province. Her older daughter is a teacher and her granddaughter is in kindergarten. She worked in the province's gasoline station for 11 years. In 2000, she started her own business selling food items in the school cafeteria. She has done well and would like to expand her business so that she sells stationery as well as food. She is a very hardworking and precise person who is committed to give her granddaughter a good education so that she can have a rewarding career. Purevjav is applying for a loan for 2,000,000 MNT to buy more items to sell to her customers.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.